“We would like to inform that the Company has incorporated a new subsidiary named “Towercom Infrastructure Private Limited” on November 17, 2016, having registered office in Mumbai, the company said in a notification to stock exchanges Thursday. “TIPL will be an Infrastructure company, which is yet to commence its business operations.”

The subsidiary has been formed with a subscribed and paid up capital of Rs 1,00,000, the statement said. The move comes less than a month after RCom said it has signed a non-binding pact with Canada’s Brookfield to sell a majority stake in the Anil Ambani company’s tower unit for Rs 11,000 crore.